Common Transaction Security definition

Common Transaction Security means any Transaction Security which to the extent legally possible and subject to any Agreed Security Principles:
View Source
Common Transaction Security means any Transaction Security which to the extent legally possible and subject to the Agreed Security Principles is created in favour of the Security Agent as agent for or on behalf of the other Secured Parties in respect of their Liabilities and which (subject to the terms of this Agreement) ranks in the order of priority contemplated in Clause 2.2 (Guarantee and Transaction Security).
View Source
Common Transaction Security means the Security created or evidenced or expressed to be created or evidenced under or pursuant to the Common Transaction Security Documents.
View Source

Examples of Common Transaction Security in a sentence

  • Each Hedge Counterparty, by its accession to this Agreement as a Hedge Counterparty, acknowledges receipt of notice of assignment pursuant to the applicable Transaction Security Documents in respect of the Common Transaction Security of the proceeds owing by that Hedge Counterparty to any Debtor pursuant to the Hedging Agreement(s) to which that Hedge Counterparty is a party.

  • The Common Security Agent is not obliged, but may if required by the Transaction Security Documents, to hold in its own possession any Common Transaction Security Documents, title deeds or other document in connection with any asset over which security is intended to be created in connection with the Common Transaction Security Documents.

  • Lender Cash Collateral), the Secured Creditors shall not have any independent power to enforce, or have recourse to, any of the Common Transaction Security or to exercise any rights or powers arising under the Transaction Security Documents except through the Security Agent.


More Definitions of Common Transaction Security

Common Transaction Security is a reference to the Security constituted pursuant to this Debenture; and
View Source